Yep "punters" is an appropriate term, in a field of 15 horses, there can only be one winner.
This stock is now a trading stock, day traders galore will arrive onto planet Tiger and scream out in unison that this is a no brainer and lofty price targets will be hoisted onto those that believe or want to believe.
I posted once before that 1.1 billion shares on issue will have many tossing in the towel it these guys disappoint again. That came today, come Monday there may more residual selling from those that are yet to read the news and any funds that trigger redeemptions on a Monday.
That said and done, trading wise 3.9/4.0 is imo support for now. Upside resistance probably 5.2 then 5.7. It could get into 6.5 to 7.0 cents range but not with this management as they have zero credibility. The likes of Macquarie, PSL and UBS who pumped out buy reccos during Dec and Jan with SP targets of 24 / 23 & 36 cents will want the MD's head. At that who is going to re finance at attractive rates now?
TGS Price at posting:
4.9¢ Sentiment: None Disclosure: Not Held
